Interestingly there are some rumors coming from Asia that Apple will be coming out with a low cost "economy" iPhone. It would be really interesting if rather than 3rd world being the target for those phones, the real target is Walmart.

The cost of the iphone is stated in the first sentence in the article:
While the $45 flat rate pricing is enticing, Walmart's handset selection will be limited to the 16GB iPhone 5 and 8GB iPhone 4, which are priced at $649 and $449, respectively.

Didn't get into details...I had ice cream in my cart! The Walmart credit card details are on their site...looks like they have their own - extends to Sams Club, and a Walmart Discover® to be used where accepted.